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loans provided to eligible applicants by fiscal year and by income category. According to SHIP Program requirements, the county must submit an annual report for the closeout fiscal year (FY21 /22) showing that all allocated SHIP funds were expended for that FY. That report must also include interim year data for interim year 1 (FY 22/23). The County was given an extension to December 31, 2024 to expend the FY21/22 funds and to encumber FY 22/23 due to having had SHARP funds in addition to the SHIP funds. The Annual Report will be resubmitted on December 31, 2024 once all funds for the closeout year have been expended. A certification form for the report must be signed by the Chairman of the Board of County Commissioners or his designee. For all previous fiscal years, closeout reports were previously submitted to and approved by the state. Attachment #2 to this staff report is the county's SHIP Program FY 2021-2022 annual closeout report. ANALYSTS According to state regulations, SHIP funds must be utilized in such a manner that all state requirements and all requirements of the county's Local Housing Assistance Program are met. Among the SHIP requirements are the following: • At least 30% of funds must be utilized by very low income (VLI) households • At least 30% of funds must be utilized by low income (LI) households • At least 65% of funds must be utilized for homeownership • At least 75% of funds must be utilized for construction, rehabilitation or emergency repair • At least 20% of funds must be utilized for special needs applicants or household members • Not more than 10% of state allocated and 5% of program income funds may be utilized for administration costs In administering the SHIP program, the county has met all of those requirements as well as all local requirements for home ownership, credit, employment, assets, and others. The purpose of this staff report is to provide the Board of County Commissioners with background information and the attached SHIP annual report, and to obtain Board authorization for the Chairman to sign the Certification Form for the attached SHIP annual report (see attachment #3). RECOMMENDATION Staff recommends that the Board of County Commissioners: 1. approve the attached SHIP 2024 annual report and authorize its formal submission to the Florida Housing Finance Corporation after any necessary changes are made; and 2. authorize the Chairman to sign the attached Certification form; and 3. authorize staff to make any minor reporting changes to the annual report and Certification form that may be requested by the Florida Housing Finance Corporation. 2 12c)-2